Government ‘in talks with Tata Steel to provide £500m funding package’ – but 3,000 jobs at risk September 2, 2023 The Government is reportedly in advanced talks with Tata Steel to provide a £500 million funding package aimed at safeguarding the long-term future of a key part of Britain’s steel industry. The deal would secure £1 billion for the group’s Port Talbot steelworks but could lead to as many as 3,000 job losses, according to [...]
Subsidise green steel with cheaper energy deals, says think tank August 29, 2023 Renewable developers should offer cheap electricity for steel producers to enable them to ramp up production to meet the UK’s green ambitions, a leading climate think tank has argued. A potential ‘energy for steel’ arrangement would see project owners of wind and solar farms offer cheap electricity directly to steel producers – through a power [...]
Feeding off scrap: Steel industry must go green if it wants taxpayer support April 17, 2023 The steel sector must embrace scrap supplies if it wants to present a viable green future and win over taxpayer support for more funding.
Steel yourselves: Severfield announces record UK order book March 27, 2023 Steel group Severfield has posted a bullish trading update, revealing a record order book for projects in the UK and Europe.
Sanjeev Gupta’s GFG vows to fund steel producer ABB’s fight against New York bankruptcy case March 14, 2023 Sanjeev Gupta’s GFG Alliance has set out its plan to block steel producer Aartee Bright Bar (ABB) from being forced into bankruptcy. The conglomerate, which fully acquired the Midlands company last month, said it would ask a court to block New York investment fund FGI from plunging ABB into insolvency. GFG said its rescue plan [...]
UK falling behind EU rivals in green steel race, climate group warns March 7, 2023 The UK is falling further behind its European rivals in the race to develop green steel plants, according to a top climate think tank.
British Steel confirms 260 jobs at risk amid coke oven closures February 22, 2023 British Steel announced 260 jobs are at risk amid proposals to close its coke ovens at its plant in Scunthorpe. The firm said the UK remains “uncompetitive” compared to rival markets with energy and carbon costs “some of the highest” globally. It said it had seen a £190m rise last year and the facilities were [...]
Hundreds of jobs at risk as Chinese-owned British Steel set to announce closure of Scunthorpe plant February 22, 2023 Unions fear British Steel is set to announce the closure of coking ovens at one of its plants, with the loss of hundreds of jobs as the company warns it faces “significant challenges”. Union officials were told earlier this month the Chinese-owned company was considering closing coke ovens at its site in Scunthorpe. An announcement [...]
A tale of two industries: Government will regret saving steel over Britishvolt January 23, 2023 The government could regret backing British Steel while leaving Britishvolt to collapse, writes energy editor Nicholas Earl.
Govt to funnel £300m towards British Steel in bid to save struggling metal maker from collapse – reports January 20, 2023 The Government is poised to funnel nearly a third of a billion pounds towards British Steel to save the struggling metal maker from collapse, according to reports. Sky News said that Chancellor Jeremy Hunt is prepared to hand the company £300 million in instalments over the next few years if it meets certain conditions. The [...]